Ticker

Ticker

October 24, 1995

REGION

STENNIS SEA TRIAL. The Navy will get its chance to test the USS John C. Stennis today and Wednesday when the Nimitz-class aircraft carrier leaves Newport News Shipbuilding and goes on its second sea trial. The trial is the final step before the yard delivers the ship to the Navy, which plans to commission the vessel Dec. 9 in Norfolk. Construction began in March 1991.

EMPLOYMENT UP. Nonagricultural employment in Virginia totaled 3.07 million in August, 1.9 percent higher than in August 1994, the ViRginia Employment Commission said Monday. The service sector - increasing 4.4 percent, or 37,100 jobs, or 4.4 percent - accounted for two-thirds of the new jobs created in Virginia. Hampton Roads saw employment increase 2.2 percent, or 14,000 jobs, to 636,000 despite a 3,100-job loss in the government sector.

GTE HEARINGS PLANNED. The State Corporation Commission will hold four hearings around the state to get comment on GTE's proposed rate restructuring plan. The SCC has received 8,000 letters and petitions with more than 21,000 signatures. About 95 percent oppose the plan. Hearings will be in Harrisonburg, Franklin, Appomattox and the Northern Neck. Details will be announced later.

BIZ BITES ... BusinessWeek is reporting in its Oct. 30 edition that the word on Wall Street is that Norfolk Southern is poised to buy Philadelphia-based Conrail for up to $90 a share, or nearly $7.5 billion. The railroads, which talked about the idea briefly 1 1/2 years ago, declined to comment. ... Security Pacific Financial Services, a consumer finance company with more than 260 branches in 33 states, has opened a Williamsburg office at 122-J Waller Mills Road. ... Virginia Tech is teaming up with First Union to offer MBA classes via satellite TV next fall at the bank's Richmond operations center. The four-year program is designed for working adults. ... Richmond-based Owens & Minor has signed a five-year deal worth up $150 million to provide medical supplies to Inova Health System, a Northern Virginia health-care company. ... Shareholders of Loyola Capital Corp., a $2.5 billion thrift-holding company in Baltimore, have approved a merger with Richmond-based Crestar. The deal is expected to close in December.